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April 26, 2013

Kevin McCarty, the commissioner for Florida, has released an official announcement that is urging homeowners in the state prepare for the upcoming hurricane season through the purchase of flood insurance before the storms start to arrive.

The last few years have shown the weather to be fierce and unpredictable, so it is best to be prepared.

Flood insurance coverage is available to business owners, homeowners, and renters through the National Flood Insurance Program (NFIP) to communities that are participating in it. According to Commissioner McCarty’s statement, it is important for consumers to know that rates for both new and renewed policies will rise considerably beginning on October 1, 2013. This gives another reason for purchases to be made sooner rather than later.

Flood insurance is often the only protection that a resident or business has against damage from these events.

In the United States, the most common natural disaster is from flooding. However, damage from that peril is not covered by the typical business, homeowners, or even tenants policy. An additional amount of flood insurance protection in necessary to make sure that the cost associated with the damages is covered.

McCarty explained that “Florida’s risk for severe weather is well-known and, even though a hurricane has not impacted our state in recent years, several tropical storms have caused significant flood damage to many Floridians.”

He went on to say that regardless of the type of storm that may bring about the damage, “I strongly urge” the people in the state to buy their flood insurance policies ahead of May 1. The reason is that it usually takes thirty days for a typical policy to become effective. This would mean that in order to have the coverage in place by June 1, it would need to be purchased a month ahead of time.

June 1 is an important date as it marks the beginning of the hurricane season, which is the time in which it is most likely that flood insurance will be necessary to protect against flooding from severe storms.